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Thread: Tell me about Bitcoin

  1. #31
    Unobtanium PatColo's Avatar
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    Re: Tell me about Bitcoin

    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

  2. #32
    Unobtanium PatColo's Avatar
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    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

  3. #33
    Unobtanium PatColo's Avatar
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    Re: Tell me about Bitcoin

    vlogger The HoneyBee, her first vid in > 1 month... unusual topic for her as she's been all about P*Gate since her YT channel's debut this year.

    Short version: bitcoin transactions won't be 'private' any more:

    https://i.ytimg.com/vi/Cwj_iympoRg/h...dDBWNtEc9ADGVg 7:02
    The End of Cryptocurrency?


    • 1,177 views
    • 11 hours ago


    Published on Aug 9, 2017
    Purchase Order:
    https://www.fpds.gov/common/jsp/Launc...

    "HSI Baltimore intends to retain the services of a blockchain analysis provider that has the capability to EXPEDITIOUSLY trace movements of Bitcoins. We anticipate the tracing of these coins will lead to criminal prosecutions."

    Federal Procurement Data System https://www.fpds.gov

    Shawn at SGT Report https://www.sgtreport.com/

    Lynette Zang on SDR https://www.youtube.com/watch?v=sG3Ju...

    Amber Alert for Ella Abbott 8/9/17
    https://www.google.org/publicalerts/a...


    The the SGT Report vid she recommends watching is in my reply #32 above.
    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

  4. #34
    Moderator madfranks's Avatar
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    Re: Tell me about Bitcoin

    Quote Originally Posted by PatColo View Post
    Short version: bitcoin transactions won't be 'private' any more:
    I call fake news. You don't need any kind of identification to get a bitcoin wallet, and the only identifier to a wallet is a string of random numbers and letters. If one were to get a new wallet and mine or otherwise obtain bitcoin privately, there's no way to identify who owns them. Go to blockchain.info and watch the live transactions, and tell me how you can identify who owns what, outside of bitcoin addresses which have been made publicly known as to who owns them.
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

  5. #35
    Bitcoin Miner Ares's Avatar
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    Re: Tell me about Bitcoin

    Quote Originally Posted by madfranks View Post
    I call fake news. You don't need any kind of identification to get a bitcoin wallet, and the only identifier to a wallet is a string of random numbers and letters. If one were to get a new wallet and mine or otherwise obtain bitcoin privately, there's no way to identify who owns them. Go to blockchain.info and watch the live transactions, and tell me how you can identify who owns what, outside of bitcoin addresses which have been made publicly known as to who owns them.
    Someone has identified wallets for the big guys though:

    https://www.walletexplorer.com/
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

  6. #36
    Unobtanium PatColo's Avatar
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    Re: Tell me about Bitcoin

    Quote Originally Posted by madfranks View Post
    I call fake news. You don't need any kind of identification to get a bitcoin wallet, and the only identifier to a wallet is a string of random numbers and letters. If one were to get a new wallet and mine or otherwise obtain bitcoin privately, there's no way to identify who owns them. Go to blockchain.info and watch the live transactions, and tell me how you can identify who owns what, outside of bitcoin addresses which have been made publicly known as to who owns them.
    I still haven't made the bitcoin plunge, so I easily get confuse by the "new vocabulary." I trust once I get one, and toy around with the app(s), test tiny transactions, etc... much will come into focus.

    That HoneyBee vid above currently has 93 comments. I haven't read most, but one pinned at the top says:



    Defango11 hours ago
    It's a nice thought but it would be impossible for them to take over an existing blocking. The SDR is a proposed blockchain that is meant to replace but it could never do the things you are describing. They would have to ban the usage of bitcoin and make all other non FED coins illegal for this to happen.
    1

    https://yt3.ggpht.com/-nTr8UyHHeBw/A...ffff/photo.jpg
    Mellisa Honeybee Zaccaria4 hours ago (edited)
    Defango I suspect they will, and it seems like they will use "Dark Web Crime" to ban other alt coins. Look at all the recent arrests, Elliptic and Chainanalysis are tracing Bitcoin transactions which aids in HSI in arresting pedophiles, is it totally out of the realm of possibility that they will ban alt coins and only offer the SDR and then roll out DDC? And what about D-Wave, I've read a few articles that say quantum computers will inevitably cripple Bitcoin by undermining keys and incryptions, what are your thoughts on that? Thanks for insights, I'm still trying to understand the technical aspects of what protects Bitcoin and other alt coins from compromise



    FAKE "ELECTIONS" - Why Ron Paul Can't "Win"

    "If telling the truth marginalizes you, then that is the place to be. After all, if enough people are willing to be marginalized, then before you know it, society has developed a different center. This is the politics of truth." -- E. Martin Schotz

  7. #37
    Bitcoin Miner Ares's Avatar
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    Re: Tell me about Bitcoin

    Quote Originally Posted by PatColo View Post
    I still haven't made the bitcoin plunge, so I easily get confuse by the "new vocabulary." I trust once I get one, and toy around with the app(s), test tiny transactions, etc... much will come into focus.

    That HoneyBee vid above currently has 93 comments. I haven't read most, but one pinned at the top says:



    Defango11 hours ago
    It's a nice thought but it would be impossible for them to take over an existing blocking. The SDR is a proposed blockchain that is meant to replace but it could never do the things you are describing. They would have to ban the usage of bitcoin and make all other non FED coins illegal for this to happen.
    1

    https://yt3.ggpht.com/-nTr8UyHHeBw/A...ffff/photo.jpg
    Mellisa Honeybee Zaccaria4 hours ago (edited)
    Defango I suspect they will, and it seems like they will use "Dark Web Crime" to ban other alt coins. Look at all the recent arrests, Elliptic and Chainanalysis are tracing Bitcoin transactions which aids in HSI in arresting pedophiles, is it totally out of the realm of possibility that they will ban alt coins and only offer the SDR and then roll out DDC? And what about D-Wave, I've read a few articles that say quantum computers will inevitably cripple Bitcoin by undermining keys and incryptions, what are your thoughts on that? Thanks for insights, I'm still trying to understand the technical aspects of what protects Bitcoin and other alt coins from compromise



    Quantum computers are not magic and still have to obey the rules of cryptography. So the likelihood of them being able to crack Bitcoin are very unlikely as I pointed out on another thread here:

    As far as a Quantum computer being able to crack SHA256, unlikely.

    1) quantum computers, if ever they come into existence with a lot of qubits (which I personally doubt, but ok), can TOTALLY CRACK the current public key systems based on prime factorization (RSA, Diffie-Hellmann) or based upon discrete logarithms in groups (elliptic curve crypto). The algorithm to do so is known, it is Shor's algorithm. By TOTALLY I mean totally: just ANY key can be cracked in a matter of milliseconds, on the condition that the quantum computer has more qubits than (a few times) the key length. If such a quantum computer exists, there is simply no difficulty in cracking the key, it doesn't take "days" or anything because the difficulty goes LOGARITHMIC with Shor's algorithm.

    2) however, for hash functions, and symmetric crypto like AES-256, it can be shown that a quantum computer can AT BEST use Grover's algorithm to crack it. Grover's algorithm doesn't crack entirely a hash function, but essentially HALVES ITS BIT STRENGTH. So a SHA-256 hash (with 256 bits) would not require 2^256 trials like on a classical computer, but "only" 2^128 trials on a quantum computer, which is STILL IMPOSSIBLE to do practically. Most people think that quantum computers will, if ever they exist, run much slower than classical machines, so 2^128 trials on a quantum machine will be much harder to solve than 2^128 trials on a classical machine.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

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    madfranks (10th August 2017)

  9. #38
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    Re: Tell me about Bitcoin

    They would have to ban the usage of bitcoin and make all other non FED coins illegal for this to happen.

    Defango I suspect they will, and it seems like they will use "Dark Web Crime" to ban other alt coins.
    Until "they" have a world government, "they" can't ban bitcoin any more than any one government can ban another country from using the internet. Bitcoin is a global network, and simply can't be banned by any government. Until maybe world government is instituted, then that government could theoretically ban it.
    "Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
    - Lew Rockwell

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    Ares (10th August 2017)

  11. #39
    Bitcoin Miner Ares's Avatar
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    Re: Tell me about Bitcoin

    Quote Originally Posted by madfranks View Post
    Until "they" have a world government, "they" can't ban bitcoin any more than any one government can ban another country from using the internet. Bitcoin is a global network, and simply can't be banned by any government. Until maybe world government is instituted, then that government could theoretically ban it.
    Then there is always the darknet to transmit your transactions over. Not to mention Monero and zcash for anonymous transfer.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

  12. #40
    Iridium monty's Avatar
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    Re: Tell me about Bitcoin

    Quote Originally Posted by madfranks View Post
    Until "they" have a world government, "they" can't ban bitcoin any more than any one government can ban another country from using the internet. Bitcoin is a global network, and simply can't be banned by any government. Until maybe world government is instituted, then that government could theoretically ban it.
    Moving to a one world government is probably why the communist US District Courts are so aggressively shredding the Constitution and Bill of Rights. They use socialism and communism to ultimately achieve their one world government.
    The only thing declared necessary in the Constitution & Bill of Rights is the #2A Militia of the several States.
    “A well regulated militia being necessary to the security of a freeState”
    https://ConstitutionalMilitia.org


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